Thor Industries Earnings 2020-10-31

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

tho-20201031

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended October 31, 2020.

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ____ to ____.

COMMISSION FILE NUMBER 001-09235

THOR INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Delaware

93-0768752

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)

601 E. Beardsley Ave., Elkhart, IN

46514-3305

(Address of principal executive offices)

(Zip Code)

(574) 970-7460

(Registrant's telephone number, including area code)

None

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act

Name of each exchange

Title of each class

Trading Symbol(s)

on which registered

Common stock (Par value $.10 Per Share)

THO

New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☑ Accelerated filer ☐

Non-accelerated filer ☐ Smaller reporting company ☐

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☑

As of November 30, 2020, 55,366,241 shares of the registrant’s common stock, par value $0.10 per share, were outstanding.

PART I – FINANCIAL INFORMATION (Unless otherwise indicated, amounts in thousands except share and per share data.)

ITEM 1. FINANCIAL STATEMENTS

THOR INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


	October 31, 2020		July 31, 2020
ASSETS
Current assets:
Cash and cash equivalents	$	337,402	$	538,519
Restricted cash	2,808		2,844
Accounts receivable, trade, net	653,805		588,069
Factored accounts receivable	111,063		143,278
Accounts receivable, other, net	52,785		82,880
Inventories, net	1,038,250		716,305
Prepaid income taxes, expenses and other	44,203		30,382

Total current assets	2,240,316		2,102,277
Property, plant and equipment, net	1,091,941		1,107,649
Other assets:
Goodwill	1,481,283		1,476,541
Amortizable intangible assets, net	885,454		914,724
Deferred income tax assets, net	70,496		78,738

Other	91,432		91,531
Total other assets	2,528,665		2,561,534
TOTAL ASSETS	$	5,860,922	$	5,771,460

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	753,106	$	636,506
Current portion of long-term debt	12,519		13,817
Short-term financial obligations	35,257		35,939
Accrued liabilities:
Compensation and related items	194,687		160,083
Product warranties	245,554		252,869
Income and other taxes	59,934		83,893
Promotions and rebates	71,344		97,378
Product, property and related liabilities	14,142		15,440
Dividends payable	22,700		—
Liabilities related to factored receivables	111,063		143,278
Other	76,384		76,078

Total current liabilities	1,596,690		1,515,281
Long-term debt	1,585,019		1,652,831
Deferred income tax liabilities, net	122,137		123,802
Unrecognized tax benefits	13,441		12,765
Other liabilities	123,114		121,212
Total long-term liabilities	1,843,711		1,910,610
Contingent liabilities and commitments	—		—
Stockholders’ equity:
Preferred stock – authorized 1,000,000 shares; none outstanding	—		—
Common stock – par value of $.10 per share; authorized 250,000,000 shares; issued 65,651,570 and 65,396,531 shares, respectively	6,565		6,540
Additional paid-in capital	442,794		436,828
Retained earnings	2,292,387		2,201,330
Accumulated other comprehensive income, net of tax	11,219		26,993
Less treasury shares of 10,285,329 and 10,197,775, respectively, at cost	(360,226)		(351,909)
Stockholders' equity attributable to THOR Industries, Inc.	2,392,739		2,319,782
Non-controlling interests	27,782		25,787
Total stockholders’ equity	2,420,521		2,345,569
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	5,860,922	$	5,771,460

See Notes to the Condensed Consolidated Financial Statements.

THOR INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)


	Three Months Ended October 31,
		2020		2019
Net sales		$	2,537,360	$	2,158,785
Cost of products sold		2,158,508		1,849,974
Gross profit		378,852		308,811
Selling, general and administrative expenses		181,763		188,464
Amortization of intangible assets		27,427		24,293


Interest income		318		975
Interest expense		24,276		28,025
Other income (expense), net		615		(370)
Income before income taxes		146,319		68,634
Income tax provision		30,680		16,789
Net income		115,639		51,845
Less: Net income attributable to non-controlling interests		1,882		780
Net income attributable to THOR Industries, Inc.		$	113,757	$	51,065

Weighted-average common shares outstanding:
Basic		55,238,164		55,095,074
Diluted		55,554,682		55,224,655

Earnings per common share:
Basic		$	2.06	$	0.93
Diluted		$	2.05	$	0.92




Comprehensive income:
Net income		$	115,639	$	51,845
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment		(18,993)		993
Unrealized gain (loss) on derivatives, net of tax		3,332		(3,722)

Total other comprehensive loss, net of tax		(15,661)		(2,729)
Total Comprehensive income		99,978		49,116
Less: Comprehensive income attributable to non-controlling interests		1,995		638
Comprehensive income attributable to THOR Industries, Inc.		$	97,983	$	48,478

See Notes to the Condensed Consolidated Financial Statements.

THOR INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


	Three Months Ended October 31,
	2020		2019
Cash flows from operating activities:
Net income	$	115,639	$	51,845
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	26,812		25,914
Amortization of intangible assets	27,427		24,293
Amortization of debt issuance costs	2,723		2,685


Deferred income tax provision	4,601		2,318
(Gain) loss on disposition of property, plant and equipment	(79)		619
Stock-based compensation expense	5,768		5,013
Changes in assets and liabilities:
Accounts receivable	(36,495)		(65,307)
Inventories, net	(322,047)		(82,152)
Prepaid income taxes, expenses and other	(14,857)		6,649
Accounts payable	127,585		19,639

Accrued liabilities	(20,601)		(46,593)
Long-term liabilities and other	2,234		3,080
Net cash used in operating activities	(81,290)		(51,997)
Cash flows from investing activities:
Purchases of property, plant and equipment	(24,708)		(31,220)
Proceeds from dispositions of property, plant and equipment	975		18,951
Business acquisitions, net of cash acquired	(22,700)		—


Other	—		(1,534)
Net cash used in investing activities	(46,433)		(13,803)
Cash flows from financing activities:

Borrowings on revolving asset-based credit facilities	—		41,569
Payments on term-loan credit facilities	(59,700)		(140,181)
Payments on revolving asset-based credit facilities	—		(5,577)

Payments on other debt	(3,096)		(3,001)


Payments on finance lease obligations	(119)		(107)

Short-term financial obligations and other, net	(5,580)		(7,477)
Net cash used in financing activities	(68,495)		(114,774)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(4,935)		(206)
Net decrease in cash and cash equivalents and restricted cash	(201,153)		(180,780)
Cash and cash equivalents and restricted cash, beginning of period	541,363		451,262
Cash and cash equivalents and restricted cash, end of period	340,210		270,482
Less: restricted cash	2,808		38,704
Cash and cash equivalents, end of period	$	337,402	$	231,778
Supplemental cash flow information:
Income taxes paid	$	48,788	$	24,512
Interest paid	$	18,207	$	25,592
Non-cash investing and financing transactions:
Capital expenditures in accounts payable	$	1,602	$	3,137
Quarterly dividends payable	$	22,700	$	22,080

See Notes to the Condensed Consolidated Financial Statements.


THOR INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE THREE MONTHS ENDED OCTOBER 31, 2020 AND 2019 (UNAUDITED)
















	Three Months Ended October 31, 2020
								Accumulated					Stockholders'
				Additional				Other					Equity		Non-		Total
	Common Stock			Paid-In		Retained		Comprehensive		Treasury Stock			Attributable		controlling		Stockholders'
	Shares	Amount		Capital		Earnings		Income (Loss)		Shares	Amount		to THOR		Interests		Equity
Balance at August 1, 2020	65,396,531	$	6,540	$	436,828	$	2,201,330	$	26,993	10,197,775	$	(351,909)	$	2,319,782	$	25,787	$	2,345,569
Net income	—	—		—		113,757		—		—	—		113,757		1,882		115,639
Restricted stock unit activity	255,039	25		198		—		—		87,554	(8,317)		(8,094)		—		(8,094)
Dividends $0.41 per common share	—	—		—		(22,700)		—		—	—		(22,700)		—		(22,700)
Stock-based compensation expense	—	—		5,768		—		—		—	—		5,768		—		5,768
Other comprehensive income (loss)	—	—		—		—		(15,774)		—	—		(15,774)		113		(15,661)


Balance at October 31, 2020	65,651,570	$	6,565	$	442,794	$	2,292,387	$	11,219	10,285,329	$	(360,226)	$	2,392,739	$	27,782	$	2,420,521






















	Three Months Ended October 31, 2019
								Accumulated					Stockholders'
				Additional				Other					Equity		Non-		Total
	Common Stock			Paid-In		Retained		Comprehensive		Treasury Stock			Attributable		controlling		Stockholders'
	Shares	Amount		Capital		Earnings		(Loss)		Shares	Amount		to THOR		Interests		Equity
Balance at August 1, 2019	65,189,907	$	6,519	$	416,382	$	2,066,674	$	(57,004)	10,126,434	$	(348,146)	$	2,084,425	$	10,803	$	2,095,228
Net income	—	—		—		51,065		—		—	—		51,065		780		51,845
Restricted stock unit activity	206,624	21		1,436		—		—		71,341	(3,763)		(2,306)		—		(2,306)
Dividends $0.40 per common share	—	—		—		(22,080)		—		—	—		(22,080)		—		(22,080)
Stock-based compensation expense	—	—		5,013		—		—		—	—		5,013		—		5,013
Other comprehensive loss	—	—		—		—		(2,587)		—	—		(2,587)		(142)		(2,729)



Balance at October 31, 2019	65,396,531	$	6,540	$	422,831	$	2,095,659	$	(59,591)	10,197,775	$	(351,909)	$	2,113,530	$	11,441	$	2,124,971

See Notes to the Condensed Consolidated Financial Statements.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(All U.S. Dollar, Euro and British Pound Sterling amounts presented in thousands except share and per share data or except as otherwise specified)

1. Nature of Operations and Accounting Policies

Nature of Operations

THOR Industries, Inc. was founded in 1980 and is the sole owner of operating subsidiaries (collectively, the “Company” or "THOR"), that, combined, represent the world's largest manufacturer of recreational vehicles (“RVs”). The Company manufactures a wide variety of RVs in the United States and Europe and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe. Unless the context requires or indicates otherwise, all references to “THOR,” the “Company,” “we,” “our” and “us” refer to THOR Industries, Inc. and its subsidiaries.

The July 31, 2020 amounts are derived from the annual audited financial statements of THOR. The interim financial statements are unaudited. In the opinion of management, all adjustments (which consist of normal, recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented have been made. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020. Due to seasonality within the recreational vehicle industry, and the current COVID-19 pandemic, among other factors, annualizing the results of operations for the three months ended October 31, 2020 would not necessarily be indicative of the results expected for the full fiscal year.

Recently Adopted Accounting Standards

In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (referred to as Step 2 in the goodwill impairment test). Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment charge equal to that excess shall be recognized, not to exceed the amount of goodwill allocated to the reporting unit. This ASU is effective for annual and any interim impairment tests for periods beginning after December 15, 2019. The Company adopted ASU 2017-04, effective August 1, 2020. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements.

2. Acquisitions

Togo Group

In February 2018, the Company formed a 50/50 joint venture, originally called TH2connect, LLC, with Tourism Holdings Limited ("thl"). In July 2019, this joint venture was rebranded as "Togo Group." Togo Group was formed to own, improve and sell innovative and comprehensive digital applications through a platform designed for the global RV industry.

Effective March 23, 2020, the Company and thl reached an agreement (the “2020 Agreement”) whereby the Company obtained additional ownership interest in Togo Group. THOR obtained a 73.5% controlling interest in Togo Group and the power to direct the activities of Togo Group. Since the effective date of the 2020 Agreement, the operating results, balance sheet accounts and cash flow activity of Togo Group have been consolidated within the Company's Condensed Consolidated Financial Statements.

The operations of Togo Group are focused on digital solutions primarily for the North American market related to travel and RV use, with expansion into other regions anticipated in future periods. The Togo Group is managed as a stand-alone operating entity and represents a non-reportable segment and a separate reporting unit for goodwill assessment purposes.

The table below summarizes the final estimated fair value of the Togo Group assets acquired and liabilities assumed as of the 2020 Agreement effective date.


Cash	$	326
Accounts receivable	466
Other assets	749
Property, plant and equipment	362
Amortizable intangible assets
Trade names and trademarks	1,130
Developed technology	5,700
Other	1,350
Goodwill	61,955
Liabilities	(2,595)
Non-controlling interest	(16,835)
Total fair value of net assets acquired	$	52,608

Amortizable intangible assets have a weighted-average useful life of approximately eight years and are amortized on a straight-line basis. The developed technology was valued using the Multi-Period Excess Earnings method, which is a form of the income approach. Trade names and trademarks were valued using the Relief from Royalty method. The majority of the goodwill is expected to be deductible for tax purposes.

Prior to the March 23, 2020 effective date of the 2020 Agreement, the Company accounted for the investment in Togo Group under the equity method of accounting, and the Company's share of the losses of this investment were included in Other income (expense), net in the Condensed Consolidated Statements of Income and Comprehensive Income. The Company's share of the loss from this investment recognized in the three months ended October 31, 2019 was $2,095.

3. Business Segments

The Company has three reportable segments, all related to recreational vehicles: (1) North American Towables, (2) North American Motorized and (3) European. The operations of the Company's Postle and Togo Group subsidiaries are included in Other, which is a non-reportable segment.

The following tables reflect certain financial information by reportable segment:


	Three Months Ended October 31,
NET SALES:		2020		2019
Recreational vehicles
North American Towables		$	1,392,044	$	1,200,888
North American Motorized		493,855		415,889
Total North America		1,885,899		1,616,777
European		602,488		493,007
Total recreational vehicles		2,488,387		2,109,784
Other		80,707		73,566
Intercompany eliminations		(31,734)		(24,565)
Total		$	2,537,360	$	2,158,785


	Three Months Ended October 31,
INCOME (LOSS) BEFORE INCOME TAXES:		2020		2019

Recreational vehicles
North American Towables		$	141,179	$	104,322
North American Motorized		41,567		21,775
Total North America		182,746		126,097
European		(5,506)		(23,024)
Total recreational vehicles		177,240		103,073
Other, net		11,490		11,751
Corporate		(42,411)		(46,190)
Total		$	146,319	$	68,634


TOTAL ASSETS:	October 31, 2020		July 31, 2020
Recreational vehicles
North American Towables	$	1,698,128	$	1,529,913
North American Motorized	644,142		480,225
Total North America	2,342,270		2,010,138
European	2,972,710		3,102,071
Total recreational vehicles	5,314,980		5,112,209
Other, net	236,081		212,378
Corporate	309,861		446,873
Total	$	5,860,922	$	5,771,460


	Three Months Ended October 31,
DEPRECIATION AND INTANGIBLE AMORTIZATION EXPENSE:		2020		2019
Recreational vehicles
North American Towables		$	15,807	$	16,271
North American Motorized		3,770		3,494
Total North America		19,577		19,765
European		31,323		27,483
Total recreational vehicles		50,900		47,248
Other		2,911		2,511
Corporate		428		448
Total		$	54,239	$	50,207




CAPITAL ACQUISITIONS:
Recreational vehicles
North American Towables	$	9,408	$	11,275
North American Motorized	1,745		2,568
Total North America	11,153		13,843
European	9,894		15,027
Total recreational vehicles	21,047		28,870
Other	1,444		655
Corporate	361		498
Total	$	22,852	$	30,023

4. Earnings Per Common Share

The following table reflects the weighted-average common shares used to compute basic and diluted earnings per common share as included on the Condensed Consolidated Statements of Income and Comprehensive Income:


	Three Months Ended October 31,
		2020	2019
Weighted-average common shares outstanding for basic earnings per share		55,238,164	55,095,074
Unvested restricted stock units		316,518	129,581
Weighted-average common shares outstanding assuming dilution		55,554,682	55,224,655

For the three months ended October 31, 2020 and 2019, the Company had 96,809 and 266,699 unvested restricted stock units outstanding, respectively, which were excluded from this calculation as their effect would be antidilutive.

5. Derivatives and Hedging

The fair value of our derivative instruments and the associated notional amounts, presented on a pre-tax basis, were as follows:


	October 31, 2020				July 31, 2020
			Fair Value in					Fair Value in
			Other Current					Other Current
Cash Flow Hedges	Notional		Liabilities			Notional		Liabilities

Interest rate swap agreements	$	631,800	$	20,469		$	673,400	$	24,840

Net Investment Hedges

The foreign currency transaction gains on the Euro-denominated portion of the term loan, which is designated and effective as a hedge of the Company’s net investment in its Euro-denominated functional currency subsidiaries, are included as a component of the foreign currency translation adjustment. Gains for the three months ended October 31, 2020, net of tax, were $5,482, and losses for the three months ended October 31, 2019, net of tax, were $1,254.

There were no amounts reclassified out of accumulated other comprehensive income ("AOCI") pertaining to the net investment hedge during the three-month periods ended October 31, 2020 and October 31, 2019, respectively.

Derivatives Not Designated as Hedging Instruments

The Company has certain other derivative instruments which have not been designated as hedges. These other derivative instruments had a notional amount totaling approximately $33,806 and a fair value of $1,854 which is included in Other current liabilities in the Condensed Consolidated Balance Sheet as of October 31, 2020. These other derivative instruments had a notional amount totaling approximately $34,862 and a fair value of $1,824, as of July 31, 2020. For these derivative instruments, changes in fair value are recognized in earnings.

The total amounts presented in the Condensed Consolidated Statements of Income and Comprehensive Income due to changes in the fair value of the following derivative instruments are as follows:


	Three Months Ended October 31,
	2020		2019
Gain (Loss) on Derivatives Designated as Cash Flow Hedges

Gain (Loss) recognized in Other Comprehensive Income, net of tax
Foreign currency forward contracts	$	—	$	(525)
Interest rate swap agreements	3,332		(3,197)
Total gain (loss)	$	3,332	$	(3,722)


	Three Months Ended October 31,
	2020				2019
			Interest					Interest
	Sales		Expense			Sales		Expense
(Loss) Reclassified from AOCI, Net of Tax
Foreign currency forward contracts	$	—	$	—		$	—	$	—
Interest rate swap agreements	—		(2,774)			—		(495)
(Loss) on Derivatives Not Designated as Hedging Instruments
Amount of loss recognized in income, net of tax

Interest rate swap agreements	—		(38)			—		(75)
Total (loss)	$	—	$	(2,812)		$	—	$	(570)

6. Inventories

Major classifications of inventories are as follows:


	October 31, 2020		July 31, 2020
Finished goods – RV	$	108,327	$	152,297
Finished goods – other	46,819		44,779
Work in process	209,155		128,181
Raw materials	387,516		302,813
Chassis	334,392		135,194
Subtotal	1,086,209		763,264
Excess of FIFO costs over LIFO costs	(47,959)		(46,959)
Total inventories, net	$	1,038,250	$	716,305

Of the $1,086,209 and $763,264 of inventories at October 31, 2020 and July 31, 2020, $394,184 and $251,099, respectively, were valued on the last-in, first-out (LIFO) method, and $692,025 and $512,165, respectively, were valued on the first-in, first-out (FIFO) method.

7. Property, Plant and Equipment

Property, plant and equipment consists of the following:


	October 31, 2020		July 31, 2020
Land	$	135,604	$	136,200
Buildings and improvements	767,246		760,986
Machinery and equipment	448,204		438,985
Rental vehicles	75,546		83,534
Lease right-of-use assets – operating	34,078		33,609
Lease right-of-use assets – finance	3,536		3,672
Total cost	1,464,214		1,456,986
Less accumulated depreciation	(372,273)		(349,337)
Property, plant and equipment, net	$	1,091,941	$	1,107,649

See Note 15 to the Condensed Consolidated Financial Statements for further information regarding the lease right-of-use assets.

8. Intangible Assets and Goodwill

The components of amortizable intangible assets are as follows:



	October 31, 2020				July 31, 2020
			Accumulated				Accumulated
	Cost		Amortization		Cost		Amortization
Dealer networks/customer relationships	$	763,378	$	270,510	$	766,198	$	252,320
Trademarks	276,985		51,066		275,775		47,743
Design technology and other intangibles	212,218		45,551		213,468		40,654


Total amortizable intangible assets	$	1,252,581	$	367,127	$	1,255,441	$	340,717

Estimated future amortization expense is as follows:


For the remainder of the fiscal year ending July 31, 2021	$	81,636
For the fiscal year ending July 31, 2022	112,771
For the fiscal year ending July 31, 2023	92,322
For the fiscal year ending July 31, 2024	83,315
For the fiscal year ending July 31, 2025	76,397
For the fiscal year ending July 31, 2026 and thereafter

Price	58.24	EPS	3
Shares	55	P/E	18
MCap	3,216	P/FCF	10
Net Debt	1,578	EBIT	333
TEV	4,794	TEV/EBIT	14
TTM 2019-10-31, in MM, except price, ratios

10-Q	2020-10-31	Filed 2020-12-08
10-K	2020-07-31	Filed 2020-09-28
10-Q	2020-04-30	Filed 2020-06-08
10-Q	2020-01-31	Filed 2020-03-09
10-Q	2019-10-31	Filed 2019-12-09
10-K	2019-07-31	Filed 2019-09-30
10-Q	2019-04-30	Filed 2019-06-10
10-Q	2019-01-31	Filed 2019-03-06
10-Q	2018-10-31	Filed 2018-12-06
10-K	2018-07-31	Filed 2018-09-20
10-Q	2018-04-30	Filed 2018-06-06
10-Q	2018-01-31	Filed 2018-03-07
10-Q	2017-10-31	Filed 2017-11-27
10-K	2017-07-31	Filed 2017-09-27
10-Q	2017-04-30	Filed 2017-06-05
10-Q	2017-01-31	Filed 2017-03-06
10-Q	2016-10-31	Filed 2016-11-28
10-K	2016-07-31	Filed 2016-09-26
10-Q	2016-04-30	Filed 2016-06-06
10-Q	2016-01-31	Filed 2016-03-07
10-Q	2015-10-31	Filed 2015-11-30
10-K	2015-07-31	Filed 2015-09-21
10-Q	2015-04-30	Filed 2015-06-04
10-Q	2015-01-31	Filed 2015-03-05
10-Q	2014-10-31	Filed 2014-12-01
10-K	2014-07-31	Filed 2014-09-25
10-Q	2014-04-30	Filed 2014-06-05
10-Q	2014-01-31	Filed 2014-03-06
10-Q	2013-10-31	Filed 2013-12-02
10-Q	2013-04-30	Filed 2013-06-06
10-Q	2013-01-31	Filed 2013-03-07
10-Q	2012-10-31	Filed 2012-11-26
10-K	2012-07-31	Filed 2012-09-26
10-Q	2012-04-30	Filed 2012-06-07
10-Q	2012-01-31	Filed 2012-03-08
10-Q	2011-10-31	Filed 2011-11-28
10-K	2011-07-31	Filed 2011-09-28
10-Q	2011-04-30	Filed 2011-06-08
10-Q	2011-01-31	Filed 2011-03-10
10-Q	2010-10-31	Filed 2010-11-30
10-K	2010-07-31	Filed 2010-09-29
10-Q	2010-04-30	Filed 2010-07-01
10-Q	2010-01-31	Filed 2010-03-08

8-K	2020-11-01
8-K	2020-10-09
8-K	2020-09-28
8-K	2020-06-16
8-K	2020-06-08
8-K	2020-05-29
8-K	2020-04-06
8-K	2020-03-25
8-K	2020-03-23
8-K	2020-03-19
8-K	2020-03-09
8-K	2020-01-30
8-K	2019-12-16
8-K	2019-12-12
8-K	2019-12-09
8-K	2019-10-14
8-K	2019-10-14
8-K	2019-10-10
8-K	2019-09-30
8-K	2019-09-09
8-K	2019-07-23
8-K	2019-07-09
8-K	2019-06-17
8-K	2019-06-10
8-K	2019-03-21
8-K	2019-03-06
8-K	2019-02-01
8-K	2019-01-30
8-K	2018-12-17
8-K	2018-12-14
8-K	2018-12-13
8-K	2018-12-06
8-K	2018-10-11
8-K	2018-10-11
8-K	2018-09-20
8-K	2018-09-18
8-K	2018-06-20
8-K	2018-06-18
8-K	2018-06-06
8-K	2018-03-15
8-K	2018-03-07

EX-31.1	tho10312020exhibit311.htm
EX-31.2	tho10312020exhibit312.htm
EX-32.1	tho10312020exhibit321.htm
EX-32.2	tho10312020exhibit322.htm

THO 10Q Quarterly Report

Thor Industries Earnings 2020-10-31